Sweet Louisiana Oils Weaken as Brent-WTI Differential Narrows
Sweet Louisiana oils weakened after the premium for Brent crude oil versus West Texas Intermediate narrowed.
Heavy Louisiana Sweet’s premium to benchmark WTI narrowed 25 cents to $18.75 a barrel at 3:34 p.m., according to data compiled by Bloomberg. Light Louisiana Sweet’s premium shrank 35 cents to $19.30 a barrel over WTI.
The premium for Mars Blend was unchanged at $14.50 above WTI. Poseidon was steady at $14.75 over the U.S. benchmark. Southern Green and Thunder Horse’s premiums to WTI were unchanged at $14.70 and $16.60 a barrel.
The discount for Western Canada Select for February delivery was unchanged at $33.10 a barrel, according to Net Energy Inc., a Calgary oil broker.
Syncrude for February delivery was unchanged at parity with WTI and Bakken oil was steady at a $4 discount to the U.S. benchmark, according to Net Energy.
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